Lower to mid end properties in Dublin 6 performed best in the year to date with Pat Mullery of DNG reporting average price increases in the order of 8pc.

"The most growth took place in the category of properties priced below €1m with some houses in the €600-700,000 bracket achieving over the asking price due to the high level of demand. If pricing is accurate, there are plenty of buyers, but if the pricing is what I would call 'off', then it takes a while to sell."

Although D6 is typically associated with red-brick family homes which are always sought after - "they don't increase in number", says Mullery - the market is of interest to buyers at all levels.

"Even at the lower end there is plenty of demand. The first-time buyers will look at apartments and at the smaller houses such as Harold's Cross Cottages, because they are well located for shopping and public transport into the city centre," says Mullery.

A notable factor has been the increase in values of former Corporation homes with three-beds now priced just below €500,000 and two-beds adding more than €80,000 over the last two years.

"Families are catered for in terms of schools - Alexandra College, Sandford Park, St Mary's and Terenure College are all within the post code - and also sports facilities. The LUAS is a big attraction, road links continue to be important, and everyone wants to have ease of access to the M50."

In terms of the year ahead, Mullery is predicting slightly less inflation, with growth in D6 expected to average 6pc in 2016.